Alta Capital Management LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,415 shares of the network equipment provider’s stock after purchasing an additional 7,979 shares during the quarter. Alta Capital Management LLC’s holdings in Cisco Systems were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Evolution Wealth Advisors LLC bought a new position in Cisco Systems during the second quarter valued at approximately $33,000. Lowe Wealth Advisors LLC bought a new position in Cisco Systems during the second quarter valued at approximately $38,000. Personal Wealth Partners bought a new position in Cisco Systems during the second quarter valued at approximately $44,000. Ashburton Jersey Ltd bought a new position in Cisco Systems during the second quarter valued at approximately $49,000. Finally, Cordasco Financial Network raised its position in Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after acquiring an additional 502 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on CSCO shares. Nomura raised their price objective on shares of Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. ValuEngine lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. Morgan Stanley cut their price objective on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Finally, UBS Group set a $58.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $55.96.
NASDAQ:CSCO opened at $47.55 on Wednesday. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The firm has a market cap of $201.18 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 2.29 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $48.09 and its 200-day moving average is $52.81.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.94%. Cisco Systems’s payout ratio is 49.12%.
In other news, CEO Charles Robbins sold 18,955 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.04, for a total value of $948,508.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,130 shares of company stock worth $9,359,179. 0.03% of the stock is currently owned by corporate insiders.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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